Apollo Tyres today reported 17.52 per cent increase in consolidated net profit at Rs 257.94 crore for the second quarter ended September 30, 2014-15 driven by higher exports. The company had reported net profit of Rs 219.47 crore in the…
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Bridgestone inaugurates new US headquarters
When talk first surfaced that Bridgestone Americas was looking to move its U.S. headquarters into the heart of downtown Nashville, the tyremaker never actually denied it, despite the haste with which some dismissed the notion. This morning, according to The…
Thai ministry urges financial institutions to issue loans to rubber farmers
The Ministry of Agriculture and Cooperatives urges financial institutions to expedite the issuance of 15-billion-baht loan to rubber farmers and confirms that financial aid will be distributed to them from 15 November onwards. Minister of Agriculture and Cooperatives Pitiphong Phuengbun…
Yokohama reports net sales increase
Through the first nine months of the year, Yokohama Rubber Co. Ltd. posted record net income of 24.9 billion yen on record net sales of 429.8 billion yen. That compares to income of 19.5 billion yen on sales of 412.4…
Chinese rubber processors to conduct site survey to establish rubber facilities
A representative of China Cereals, Oils, and Foodstuffs Corporation (COFCO), China’s state-owned food-processing holding company, will visit Thailand to discuss rice purchases with the government under a government-to-government contract.Thailand will seek an opportunity to sell more rice to China on…
Vietnam Rubber Group seeks PM approval for finances
State-run Vietnamese rubber giant Vietnam Rubber Group (VRG) is seeking permission from the Prime Minister to acquire its own finance subsidiary to help cover the VND 1.77 trillion ($83.31 million) losses of the beleaguered company. The proposal has been criticized…
Michelin plans to expand business in China
Michelin will double its business in China over the next 10 years, according to a Reuters report. The news was announced during Michelin’s investors day in China. The tyremaker also aims to produce 220,000 tons annually at its Shenyang plant…
US scrap tyre market flourishes while stockpiles lessens
The Rubber Manufacturers Association (RMA) issued a report coinciding with National Recycling Week, which runs from Nov. 10-16. The report found that more than 90% of scrap tyre piles are cleaned up while 96% of tyres discarded in 2013 were…
TVS Srichakra reports net profit rise in second quarter
Shares of tyre company TVS Srichakra surged 20 per cent in trade after the company came out with impressive set of results for quarter ended September 2014.The company’s net profit surged to Rs 26.04 crore in July-Sept 2014 from Rs…
Greenball reveals new Centennial Terra Trooper A/T at SEMA show
Greenball Corp. introduced the Centennial Terra Trooper A/T for on and off-road use at the 2014 Specialty Equipment Market Association (SEMA) Show in Las Vegas. The Terra Trooper will be available in 12 sizes in the second quarter of 2015.…